The maximum subsidy for scrapping and replacing cars is 20,000 yuan.
2024-08-24
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On August 16, the Ministry of Commerce and seven other departments issued a notice on further improving the work of car trade-in, officially launching a new round of car trade-in, raising the scrapping and renewal subsidy standard, and increasing central financial support. Over the weekend, reporters visited the Shenyang auto market and saw that under the new policy, Shenyang's auto consumption demand was further released. Fang Dehe, secretary general of the Shenyang New Energy Automobile Industry Association, believes that in the field of new energy vehicles, the new policy will drive the market to "better and better."
Subsidy standards for scrapping and renewal increased
On August 17, a new energy vehicle showroom on Beier Road was holding a promotional event for new models. More than 100 people attended the event, most of whom were consumers who were interested in buying new cars. "Today's event was more or less beyond our expectations. Some of them saw the car trade-in policy that was just released yesterday and were determined to buy new cars," the showroom's sales manager told reporters.
It is reported that the car trade-in policy has increased the subsidy standard for scrapping and updating. For eligible cars, the subsidy standard will be increased from the previous 10,000 yuan for purchasing new energy passenger cars and 7,000 yuan for purchasing fuel passenger cars to 20,000 yuan and 15,000 yuan respectively, both of which have increased by more than double. Specifically:
Individual consumers who scrap fuel passenger cars with emission standards of National III or below or new energy passenger cars registered before April 30, 2018 between April 24, 2024 (inclusive) and December 31, 2024, and purchase new energy passenger cars or fuel passenger cars with a displacement of 2.0 liters or less that are included in the "Catalogue of New Energy Vehicle Models Exempted from Vehicle Purchase Tax" of the Ministry of Industry and Information Technology, will have their subsidy standards adjusted. Among them, for those who scrap the above two types of old cars and purchase new energy passenger cars, a subsidy of 20,000 yuan will be provided; for those who scrap fuel passenger cars with emission standards of National III or below and purchase fuel passenger cars with a displacement of 2.0 liters or less, a subsidy of 15,000 yuan will be provided.
Mr. Tao, a citizen, told reporters that he has a fuel car about 15 years old and recently wanted to replace it with a new energy car. "I was thinking about selling the old car, but now it seems more cost-effective to scrap it. I heard that there are some other discounts. I can buy the model I like for more than 70,000 yuan."
New energy vehicles market share is expected to increase
"Since the beginning of this year, the sales of new energy vehicles in Shenyang have been very good. The introduction of new policies will further benefit the new energy vehicle market and accelerate the release of market consumer demand," said Fang Dehe.
Data shows that from January to June this year, Shenyang's new energy passenger car sales totaled 41,832 units, a year-on-year increase of 69.92%. According to the sales volume of manufacturers, domestic brands accounted for 82.75%, joint ventures and wholly-owned enterprises accounted for 17.25%, among which SUV sales increased by 82.1% year-on-year.
It is worth mentioning that the new subsidy standards can be implemented retroactively. All eligible subsidy applications submitted between April 24, 2024 and January 10, 2025 (including applications for which subsidy payments have been completed) will be subsidized according to the new standards. Among them, for subsidy applications that have been issued according to the previous standards, local governments will make up the difference according to the standards specified in this notice.
During the visit, the reporter learned that under the policy, all car companies have taken advantage of the policy to launch preferential measures, showing a high degree of participation overall. Fang Dehe introduced that the consumption of new energy vehicles has maintained a very fast growth rate. In June this year, the penetration rate of new energy passenger vehicles in Shenyang reached 43.48%. The policy of replacing old vehicles with new ones will be more conducive to consumers to replace new energy vehicles, and the market share of new energy vehicles is expected to continue to increase.
(Liu Yang, senior reporter of Shenyang Daily and Shenyang Daily Omnimedia)
